DRDGOLD Limited (NYSE:DRD – Get Free Report) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $25.41 and traded as high as $25.58. DRDGOLD shares last traded at $25.50, with a volume of 279,982 shares trading hands.
Wall Street Analysts Forecast Growth
DRD has been the subject of a number of research reports. Zacks Research upgraded shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. HC Wainwright upped their price objective on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings raised shares of DRDGOLD from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 26th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, DRDGOLD presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.
Read Our Latest Stock Report on DRDGOLD
DRDGOLD Trading Up 3.9%
The firm’s 50 day simple moving average is $25.41 and its two-hundred day simple moving average is $27.33.
DRDGOLD (NYSE:DRD – Get Free Report) last issued its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter. The business had revenue of $188.03 million during the quarter. On average, equities research analysts forecast that DRDGOLD Limited will post 3.12 EPS for the current year.
DRDGOLD Announces Dividend
The company also recently disclosed a dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 11th were paid a dividend of $0.7379 per share. This represents a dividend yield of 551.0%. The ex-dividend date was Friday, September 11th.
Insiders Place Their Bets
In other news, insider Henry Gouws sold 89,160 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $2.44, for a total transaction of $217,550.40. Following the completion of the transaction, the insider directly owned 3,050 shares in the company, valued at $7,442. The trade was a 96.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dean Lindecke sold 48,948 shares of the company’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $2.44, for a total value of $119,433.12. Following the sale, the insider owned 48,948 shares in the company, valued at $119,433.12. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 644,448 shares of company stock valued at $1,615,568. Corporate insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of DRD. Bank of America Corp DE increased its holdings in shares of DRDGOLD by 111.3% in the first quarter. Bank of America Corp DE now owns 34,630 shares of the basic materials company’s stock valued at $1,017,000 after purchasing an additional 18,241 shares during the period. Renaissance Technologies LLC lifted its holdings in DRDGOLD by 58.3% in the first quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company’s stock worth $10,269,000 after purchasing an additional 128,832 shares during the period. Amundi increased its stake in DRDGOLD by 9.1% in the 1st quarter. Amundi now owns 507,710 shares of the basic materials company’s stock valued at $14,911,000 after buying an additional 42,342 shares during the period. Sei Investments Co. grew its position in DRDGOLD by 60.8% in the 1st quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company’s stock worth $2,342,000 after purchasing an additional 30,137 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in DRDGOLD by 14.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 28,563 shares of the basic materials company’s stock valued at $603,000 after buying an additional 3,657 shares during the last quarter. 14.70% of the stock is owned by institutional investors.
DRDGOLD Company Profile
DRDGOLD Limited is a South African gold producer focused on the retreatment of surface mine waste. Rather than operating conventional underground mines, the company processes gold-bearing tailings, sand dumps and slimes dams left by historical mining activities, recovering gold and reducing the environmental footprint of legacy mine waste.
DRDGOLD’s principal operations are the Ergo and Far West Gold Recoveries (FWGR) businesses. Ergo processes surface material from areas around Johannesburg and the East Rand, while FWGR operates on the West Rand and Far West Rand.
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